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Tuesday, February 4, 2014

Market Overview

Yesterday's sharp 300+ point decline took many by surprise. But we were on the look-out for such a sharp decline as part of the 5-wave decline scenario. This decline has confirmed our hypothesis and suggests that we will see further price erosion before market bottom. Bottom will most likely come within IPM Turn window.

Latest market structure is shown below.

According to this structure, market is in the 3rd wave decline phase right now. We need a minor 4th wave rise followed by another decline to 1730s to mark the bottom of wave 3. At this point, we won't over analyze the market to understand what will happen next (there is a potential for another sharp decline to low 1700s or even high 1600s).

The bottom line is that market needs to decline further in order to bottom, and this bottom should occur within IPM turn window. Critical level for the market to not break above is 1770, as this will negate this wave structure count.

Please note that latest IPM Trade Matrix trades have been updated on the blog at:

Thanks for the question. Unfortunately, IPM turn window dates are only sent via e-mail to subscribers and subscription is closed for new members. If you are interested, please send an e-mail to: subscription.ust@gmail.com.

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